Politics

[Wheels]

All currencies become debased by their governments.

$1 today has the purchasing power of $.10, sixty years ago.

There are many reasons nations fall. Stealing from citizens by devaluation of their assets is just one reason.

 

[sgt_zim]

That will not happen as long as the Dollar remains a "Reserve Currency'.

Once Nixon ended Bretton Woods (which he had to do because we were hemorrhaging gold), it became a fait accompli.

Some sovereign nations have already begun cutting bilateral trade deals with other sovereign nations. The trade agreement between China and Russia comes to mind, but there are others.

But it's still just a shell game because they're all on fiat currency, too. When the dollar collapses, as it will, they'll all collapse in short order.

 

[Hogpatrol]

The average person with a modicum of math skills can barely comprehend a billion but take a trillion, of which were are in debt to the tune of an ever increasing number. Assuming no interest, just a trillion dollars in your bank account, and you spent one million dollars a DAY, how long would take to get to zero? Answer, 2,379.72 YEARS. It's beyond the realm of comedy how much we're in the hole. Like Bill Clinton once said, "when you're in a hole, throw away the shovel". What we have now is people at the top throwing more shovels in the hole so we can get deeper faster.

 

[Hogpatrol]

Substitute the word "wizard" with "government".

 

[sgt_zim]

The average person with a modicum of math skills can barely comprehend a billion but take a trillion, of which were are in debt to the tune of an ever increasing number. Assuming no interest, just a trillion dollars in your bank account, and you spent one million dollars a DAY, how long would take to get to zero? Answer, 2,379.72 YEARS. It's beyond the realm of comedy how much we're in the hole. Like Bill Clinton once said, "when you're in a hole, throw away the shovel". What we have now is people at the top throwing more shovels in the hole so we can get deeper faster.

I use the same math, but I start with approximately the federal budget of $3.65 trillion. It would take 10,000 years to spend $1M/day - longer than civilization has existed.

If the federal government were to use the accrual method to report its liabilities, as is legally required of every publicly traded company in the US, the actual debt is over $100T.

 

[sgt_zim]

This has nothing to do with African hunting, but I am asking because I respect the knowledge of so many of the contributors here and honestly don't understand this issue. Can anyone explain by what authority Canada has arrested and the US is extraditing the Huawei CFO? The alleged crime is that Huawei is doing business in Iran. Huawei is a Chinese company and I understand that the CFO is a Chinese national living in China. I get that we are concerned about the sensitive nature of the technology and infrastructure that they provide, but do the US and Canada really have this authority?

That's a great question. It's likely to be some insane legal contortion. IF the chicoms have some sort of agreement with the US over the technology Huawei is using, I would think this would rise to being a treaty violation. It seems an absurdity to me that a foreign national, living in a foreign country, could ever be subject to laws in another sovereign. That's the sort of thing I expect the Chinese or NorKs to do. I'm quite sure if I ever went to China or NK, I'd be arrested for a great many things I've written about both of those countries and their governments.

 

[Royal27]

This has nothing to do with African hunting, but I am asking because I respect the knowledge of so many of the contributors here and honestly don't understand this issue. Can anyone explain by what authority Canada has arrested and the US is extraditing the Huawei CFO? The alleged crime is that Huawei is doing business in Iran. Huawei is a Chinese company and I understand that the CFO is a Chinese national living in China. I get that we are concerned about the sensitive nature of the technology and infrastructure that they provide, but do the US and Canada really have this authority?

I think we easily have the authority.

She was arrested for breaking U.S. law and works for a company that does, or did, business within the U.S.

Although she did it from China, she made the mistake of travelling through a country with whom the U.S. has an extradition agreement with. I'm sure the proper paperwork was filed and expedited (I can only assume that this request came from a very high level) and poof, she was arrested.

I'm following the international trade issues (and China in particular) for a number of reasons. Here are the big messages I got out of the arrest;

1. Trump is VERY serious about China, and did this just in case Xi didn't believe him when he told Xi that face to face a few days before. Remember, the world had become used to a U.S. President who was all talk and no action. Cross the red line with Trump and see what happens.

2. Contrary to MSM belief and even the belief of many in this thread, the U.S. does not stand alone in the world. The U.S. does still have strong allies. And rhetoric from Trudeau and his minions aside, Canada is still one of them. If not, Canada certainly would habe denied the request, instead they chose to poke China right in the eye.

 

[Royal27]

That's a great question. It's likely to be some insane legal contortion. IF the chicoms have some sort of agreement with the US over the technology Huawei is using, I would think this would rise to being a treaty violation. It seems an absurdity to me that a foreign national, living in a foreign country, could ever be subject to laws in another sovereign. That's the sort of thing I expect the Chinese or NorKs to do. I'm quite sure if I ever went to China or NK, I'd be arrested for a great many things I've written about both of those countries and their governments.

You're missing the part that she is a leader in a company that chose to do business in the U.S, took U.S. technology and sold it illegally, and willfully broke laws she has agreed to by doing business here.

You don't have to be a U.S. National or even physically within the U.S. to break our laws. Don't believe me, ask El Chapo Guzman.

Don't know what treaty you think the U.S. violated, or what provision was violated within that treaty?

 

[sgt_zim]

You're missing the part that she is a leader in a company that chose to do business in the U.S, took U.S. technology and sold it illegally, and willfully broke laws she has agreed to by doing business here.

You don't have to be a U.S. National or even physically within the U.S. to break our laws. Don't believe me, ask El Chapo Guzman.

Don't know what treaty you think the U.S. violated, or what provision was violated within that treaty?

I was thinking that the chicoms violated whatever treaty may be applicable, not the US. She is only the nominal head of Huawei. She obviously benefits greatly in her position, but ultimately, she didn't do what she did without sanction from her overseers. Xi permitted the sale to take place with Iran. There's no way he didn't know what the technology was. Hence, treaty violation.

 

[Hogpatrol]

Speaking of El Chapo, another one that got busted in a foreign country, tried, convicted, sentenced and sent to a U.S. jail, Manuel Noriega.

 

[Pheroze]

I dont think this is Trump. Just your Dept of Justice

. Trump is VERY serious about China, and did this just in case Xi didn't believe him when he told Xi that face to face a few days before. Remember, the world had become used to a U.S. President who was all talk and no action. Cross the red line with Trump and see what happens.

U.S. officials say Trump was unaware of Huawei arrest
https://www.theglobeandmail.com/world/video-us-officials-say-trump-was-unaware-of-huawei-arrest/

But, it puts our very Pro-Chinese government in a difficult position. If Trump had tried to influence the courts decision I am sure you would have heard a rebuke from the left. Xi does, and crickets! Hmmmm

 

[Foxi]

Wheels,
Macron was celebrated like a popstar a year and a half ago. He had previously honestly revealed his program: Fight against increasing indebtedness, fight against the dramatic decline of competition in France. That hurts now. In the age of Twitter,Facebook +Co politics becomes public.It is no longer supported by parties, unions and associations.you could negotiate with them and bring them also into the responsibility .To deal seriously with political contents becomes more and more difficult.
Foxi

 

[Royal27]

I was thinking that the chicoms violated whatever treaty may be applicable, not the US. She is only the nominal head of Huawei. She obviously benefits greatly in her position, but ultimately, she didn't do what she did without sanction from her overseers. Xi permitted the sale to take place with Iran. There's no way he didn't know what the technology was. Hence, treaty violation.

Got it. So let's assume for a second that you're right about the treaty violation, and I don't know that you are.

Xi's argument back would simply be that the Chinese government didn't violate the treaty, that a Chinese company did, and that he personally knew nothing of the matter, but would certainly and happily look into it. The result of which would be absolutely nothing and Xi wins.

Or.... Let's look at what happened. A Chinese company did what someone high within the Chinese Government (whether Xi directly or not) told them was OK to do and they ended up being arrested and might even go to jail for it. What a beautiful way to undermine Xi and his authority with his own people. For this move at least, Trump wins!

 

[Foxi]

This has nothing to do with African hunting, but I am asking because I respect the knowledge of so many of the contributors here and honestly don't understand this issue. Can anyone explain by what authority Canada has arrested and the US is extraditing the Huawei CFO? The alleged crime is that Huawei is doing business in Iran. Huawei is a Chinese company and I understand that the CFO is a Chinese national living in China. I get that we are concerned about the sensitive nature of the technology and infrastructure that they provide, but do the US and Canada really have this authority?

Canada not, but USA.
This fist is almost omnipotent in the Western world.
I remember the Bolivian government plane, started from Moscow.
It was forced to stop in Vienna and was searched by the Austrian police, because the CIA suspected Julian Asange,the whistleblower, was in. It was an unprecedented process.Constitutional or not, I would not want to mess with the USA.
I like to sleep well (and long) others look similar.
Foxi

 

[Royal27]

I dont think this is Trump. Just your Dept of Justice

Same difference. Whether Trump knew directly of the request to extradite beforehand is as irrelevant as whether Xi made a personal order to Huawei to sell U.S. technology to Iran.

Besides, I always question information sourced from unnamed officials, for obvious reasons.

 

[sgt_zim]

Wheels,
Macron was celebrated like a popstar a year and a half ago. He had previously honestly revealed his program: Fight against increasing indebtedness, fight against the dramatic decline of competition in France. That hurts now. In the age of Twitter,Facebook +Co politics becomes public.It is no longer supported by parties, unions and associations.you could negotiate with them and bring them also into the responsibility .To deal seriously with political contents becomes more and more difficult.
Foxi

I'm particularly amused by politicians who say they are "going to do something about the debt." Fiat money doesn't exist without debt. Fiat money is debt. It's like paying off your Amex every month with your Mastercard. If fiat currency debt were ever completely paid down, it would literally deflate the currency volume to 0.

 

[tarbe]

Isn't our paper money nothing but a debt instrument?

The question I have is, who is going to pay the debt represented by even just the M1 money supply (which has doubled since 2010)?

 

[sgt_zim]

Isn't our paper money nothing but a debt instrument?

The question I have is, who is going to pay the debt represented by even just the M1 money supply (which has doubled since 2010)?

View attachment 259639

Bingo.

There are 2 choices: default, or hyperinflation. Governments usually opt for the latter. My fear is that we are a lot nearer to it than most realize. Most of the M1 money has been used to buy things from foreign countries. When those M1 dollars come flowing back to the US, watch out.

 

[WAB]

Same difference. Whether Trump knew directly of the request to extradite beforehand is as irrelevant as whether Xi made a personal order to Huawei to sell U.S. technology to Iran.

Besides, I always question information sourced from unnamed officials, for obvious reasons.

Royal, I'm trying to understand what US law she broke. I am under the impression that the technology is actually chinese in origin but perhaps that is wrong? From what I can find, we are claiming that she committed fraud with US banks by misrepresenting the relationship between the parent and the sub doing business in Iran. It is hard to dig through the media reports and find any actual facts.

Perhaps you are right and this will help in the China trade negotiations, right now it looks to be having the opposite effect and the market certainly is taking that position. Part of me wonders if this was done without Trump's knowledge by someone in the administration to kill the trade negotiations.

 

[Royal27]

Royal, I'm trying to understand what US law she broke. I am under the impression that the technology is actually chinese in origin but perhaps that is wrong? From what I can find, we are claiming that she committed fraud with US banks by misrepresenting the relationship between the parent and the sub doing business in Iran. It is hard to dig through the media reports and find any actual facts.

Perhaps you are right and this will help in the China trade negotiations, right now it looks to be having the opposite effect and the market certainly is taking that position. Part of me wonders if this was done without Trump's knowledge by someone in the administration to kill the trade negotiations.

It's US technology that is at the root of the issue, not Chinese. Selling US technology to Iran violates US sanctions in general, then the claim is that she tried to further cover up through some slick maneuvers involving other companies who did the actual selling (think money laundering). This is all VERY complex of course, but I have little doubt that it was done. The Chinese have acted with impunity, until now.

And I'm really not concerned that the markets don't like it in the short term. Short term drop is fear based only, while long term is more fact based. So let's see where the market is in a couple of years from now. This is a fight we have to win now, or lose forever. There are TRILLIONS at stake.

Note: If you've never read Sun Tzu's The Art of War, read it. Call me crazy, but I think Trump uses this as part of his "how to outfox Xi" manual, and I think he's using it brilliantly.